ThredUp (NASDAQ:TDUP) Issues Quarterly Earnings Results

ThredUp (NASDAQ:TDUP) issued its quarterly earnings results on Monday. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03), Zacks reports. ThredUp had a negative net margin of 20.88% and a negative return on equity of 63.62%. The business had revenue of $79.76 million during the quarter, compared to analyst estimates of $82.58 million. During the same period last year, the firm posted ($0.18) earnings per share.

ThredUp Trading Down 62.7 %

Shares of ThredUp stock opened at $0.65 on Wednesday. The stock has a fifty day simple moving average of $1.82 and a 200 day simple moving average of $1.89. ThredUp has a 12-month low of $0.61 and a 12-month high of $4.39. The company has a market capitalization of $71.13 million, a P/E ratio of -1.01 and a beta of 0.79. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.22.

Analyst Upgrades and Downgrades

TDUP has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price target on ThredUp from $5.00 to $3.00 and set an “overweight” rating on the stock in a research note on Tuesday. Wedbush decreased their price objective on ThredUp from $4.00 to $3.00 and set an “outperform” rating for the company in a report on Tuesday, May 7th. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of ThredUp in a report on Tuesday, May 7th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $3.00 price objective on shares of ThredUp in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, ThredUp presently has a consensus rating of “Moderate Buy” and an average target price of $3.29.

Insider Buying and Selling

In related news, insider Alon Rotem sold 23,042 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $2.01, for a total transaction of $46,314.42. Following the completion of the sale, the insider now owns 218,348 shares in the company, valued at $438,879.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other ThredUp news, insider Alon Rotem sold 23,042 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $2.01, for a total value of $46,314.42. Following the completion of the transaction, the insider now owns 218,348 shares in the company, valued at approximately $438,879.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patricia Nakache sold 149,327 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $2.05, for a total value of $306,120.35. Following the completion of the transaction, the director now owns 240,438 shares of the company’s stock, valued at approximately $492,897.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 664,519 shares of company stock worth $1,312,257. 34.42% of the stock is owned by corporate insiders.

About ThredUp

ThredUp Inc, together with its subsidiaries, operates an online resale platform in the United States and internationally. Its platform enables consumers to buy and sell primarily secondhand apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.